GUD Holdings (GUD)

The share price of the industrial and consumer products business has fallen by about 3 per cent since July 26, when
GUD
released its full-year results. The results to the year ending June 30 didn’t show any significant improvement over last year, with sales increasing by only 3 per cent to $609 million and underlying net profit after tax declining by 10 per cent to $44.1 million. Difficult trading conditions in the consumer and water segments during the year had a major impact on business performance. In the consumer segment, which sells Sunbeam electric appliances and Oates cleaning products, underlying earnings before interest and tax declined by 15 per cent to $33 million. GUD’s water products business experienced reduced demand due to exceptionally wet weather in Australia. In its other two segments, industrial and automotive, performance was better. GUD in February sold its 19.4 per cent stake in Breville, which resulted in a one-off gain of $44.1 million post-tax.